Etsy Inc (ETSY)

Gross profit margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Gross profit (ttm)	US$ in thousands	1,919,702	1,914,603	1,887,196	1,860,672	1,821,519	1,748,226	1,706,927	1,673,144	1,674,602	1,633,004	1,585,545	1,522,970	1,260,880	973,479	771,167	576,301	547,343	511,086	485,507	449,995
Revenue (ttm)	US$ in thousands	2,748,377	2,713,296	2,671,463	2,627,722	2,566,111	2,476,009	2,413,969	2,357,734	2,329,114	2,229,330	2,148,379	2,048,216	1,725,625	1,378,268	1,124,737	877,095	818,379	748,409	700,828	652,120
Gross profit margin		69.85%	70.56%	70.64%	70.81%	70.98%	70.61%	70.71%	70.96%	71.90%	73.25%	73.80%	74.36%	73.07%	70.63%	68.56%	65.71%	66.88%	68.29%	69.28%	69.00%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $1,919,702K ÷ $2,748,377K
= 69.85%

The gross profit margin of Etsy Inc has demonstrated relative stability over the past eight quarters, ranging from a high of 70.98% in Q4 2022 to a low of 69.85% in Q4 2023. Despite minor fluctuations, the company has maintained a consistently high level of gross profit margin above 69% throughout the period under review. This indicates that Etsy has effectively managed its cost of goods sold in relation to its revenue generation. The average gross profit margin over the eight quarters stands at a healthy 70.48%, highlighting the company's ability to effectively control production and sourcing costs while maximizing revenues from its operations. Overall, the trend suggests a strong and efficient operational performance in terms of generating profits from its core business activities.